Daily (20.08.2019): Brent crude surged by around 2% on Monday on worries about global oil supplies

20/08/2019 11:19 Daily

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Crude oil prices rose on Monday after Yemen’s Houthi forces used a drone to attack an oilfield in eastern Saudi Arabia on Saturday, threatening global oil supplies. Brent crude added $1.1, or 1.9% to settle at $59.74 a barrel. WTI futures gained $1.34, or 2.4% to end at $56.21 a barrel.

A mixed trend in gas prices was noticed on Monday. NBP spot edged 0.2% higher at $26.45 p/therm, on prospects for a drop in wind power generation and stronger gas-for-power demand. Meanwhile, prices on the curve were bearish due to an oversupplied system. The contract for delivery in Q4 19 closed 2.6% lower at 42.44 p/therm.

 

European power prices were bullish on Monday. Prompt electricity prices increased due to lower wind output and rising demand. The German day-ahead power price boosted by 51.8% to 39.80 euros/MWh. At the same time, the French spot electricity price jumped by 43.4% to 34.60 euros/MWh.

 

Further along the curve, contracts had an upward evolution on Monday, tracking gains in carbon and fuels market. The German year-ahead power contract settled 0.6% higher at 48.77 euros/MWh. The French equivalent contract ended 0.3% up at 50.42 euros/MWh.

 

EU carbon prices rebounded from earlier losses on Monday, due to stronger auction demand. The 2019-expiry contract traded 2.3% higher at 26.56 EUR/tonne.

Daily (14.11.2019): EUAs rebounded by 1% on Wednesday, amidst a lack of auction supply and positive economic data

14/11/2019 11:45:00

Crude oil prices inched higher on Wednesday, stimulated by upbeat economic comments from Jerome Powell, the Chair of Federal Reserve. A drop in U.S. crude stocks and a positive outlook on oil markets from OPEC also supported prices. On this background, WTI futures rose by 0.6% to $57.12 a barrel, while Brent crude edged 0.5% higher at$62.37 a barrel.

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Moldovagaz and Gazprom agree new gas supply contract in principle

14/11/2019 08:59:00

Moldovagaz has agreed in principle a 3-year extension to its existing supply contract with Gazprom, the Moldovan company said, Platts reported.

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Mirova fund raises €857m for renewables

14/11/2019 08:55:00

Mirova has announced the final close of an €857m fund to invest in clean energy projects.

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